1054 Longfellow Ave · New York, NY 10459

$650,000

7 bd · 4.0 ba · 3,200 sqft · MultiFamily public records · 30 Days on market

Built 1930 2,500 sqft lot Est $1024k · 37% under

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +21.5/30.0
• ARV discount +15.0/15.0
• Appreciation +8.3/10.0
• DSCR +6.9/10.0
• 1% rule +6.2/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Short sale, in foreclosure, third-party approval needed. Short-sale awaiting Bank approval. Price is subject to change based on third-party approval. SOLD AS IS.

Key facts

• 2,500 sq ft lot
• 2 parking spots
• Built 1930

Property features AI

Exterior

• Parking: Shared driveway; Carport (2 spaces)
• Utilities: Electric service by Con-Edison; Public sewer
• Home design: Manufactured on land; Bi-level / multi-split style
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 15 total rooms (includes bedrooms and living spaces)
• Bathrooms: 4 full bathrooms
• Heating & cooling: Hot water heating; Other heating; No central cooling
• Interior features: Unfinished basement; Bi-level / multi-split layout; Other interior features
• Laundry & utility: Utilities: electricity available and connected

What this means for you Summary

Snapshot

• This is a 7-bed/4.0-bath multifamily listed at $650k.

Deal economics

• At list price, monthly cash flow is $972 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $650k).
• Recommended offer: $640k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 2.6% in New York — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 75/100 on livability (#268 in NY, #4,188 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A; Watch: crime F, cost of living F.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Jhs 383 Philippa Schuyler (math 32% / reading 67%, grade C, #280 of 729 statewide, top 40%, 822 students, 85% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: 38 active listings in the ZIP; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).

Forward outlook

• In year one you build about $48k of equity ($4k loan paydown + $43k appreciation (6.7% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $182k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$76k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($640k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 14y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $460k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $640,250 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.12% ✓
• Cap rate: 8.09%
• Cash-on-cash: 6.41%
• DSCR: 1.29
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $1,024,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1056 Longfellow Ave	0.01mi	7/4.0	3,200 (0%)	1mo	$1,175,000	$367	99
1032 Longfellow Ave	0.04mi	7/4.0	3,200 (0%)	3mo	$1,200,000	$375	95
1506 E 172nd St	0.56mi	6/4.0 (-1)	3,198 (-0%)	2mo	$950,000	$297	67
990 Jennings St	0.44mi	7/5.0	3,300 (+3%)	10mo	$990,000	$300	62
832 Bryant Ave	0.48mi	7/3.0	3,120 (-2%)	14mo	$980,000	$314	58
1029 Rev James Polite Ave	0.60mi	7/4.0	3,024 (-6%)	11mo	$960,000	$317	53
1439 Vyse Ave	0.46mi	6/4.0 (-1)	3,375 (+6%)	18mo	$1,000,000	$296	49
1464 Minford	0.64mi	8/4.0 (+1)	3,174 (-1%)	18mo	$1,100,000	$347	49
1030 Elder Ave	0.50mi	6/3.0 (-1)	2,970 (-7%)	20mo	$950,000	$320	39
1206 Tinton Ave	0.73mi	7/2.0	3,507 (+10%)	11mo	$900,000	$257	33
1343 Bristow St	0.62mi	8/5.0 (+1)	3,540 (+11%)	16mo	$1,165,000	$329	31
1169 Fox St	0.44mi	6/3.0 (-1)	2,760 (-14%)	20mo	$949,999	$344	31

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

6.66% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.1%
• Equity multiple: 2.51×
• Total profit: $275,617
• Equity at exit: $436,023

10-year hold

• IRR: 20.8%
• Equity multiple: 5.16×
• Total profit: $757,066
• Equity at exit: $815,515

Cash invested: $182,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City New York: 0 Strongly Tenant-Friendly · D+34

Rent Stabilization Code; HSTPA; 6+ months in housing court.

Methodology + full state rankings →

ZIP-level market 10459

• Home prices YoY: 2.5%
• Active inventory: 38
• Price-to-rent: 14.9×

Monthly cashflow live

• Estimated rent: $7,286 medium
• Mortgage (P&I): −$3,409
• Tax from tax record: −$1,105 /mo · $13,255/yr
• Insurance: −$271
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,530
• Net cashflow: $972

Break-even live

Break-even rent $6,056

Max offer price $650,000

Occupancy floor 82%

Sensitivity live

Price	-10% $1,340	-5% $1,156	+0% $972	+5% $788	+10% $604
Rent	-10% $396	-5% $684	+0% $972	+5% $1,260	+10% $1,547
Rate	-1.0pp $1,299	-0.5pp $1,137	base $972	+0.5pp $803	+1.0pp $632

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$7,286
Total (2 units)			$7,286

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $162,500
• Closing costs: $19,500
• Reserves months: —
• Total cash needed: —

Listing history 36 events

1. 2026-06-21
   days on market $650,000 Active 30 DOM
2. 2026-06-18
   days on market $650,000 Active 27 DOM
3. 2026-06-17
   days on market $650,000 Active 26 DOM
4. 2026-06-16
   days on market $650,000 Active 25 DOM
5. 2026-06-15
   days on market $650,000 Active 24 DOM
6. 2026-06-13
   days on market $650,000 Active 22 DOM
7. 2026-06-10
   days on market $650,000 Active 18 DOM
8. 2026-06-08
   days on market $650,000 Active 17 DOM
9. 2026-06-08
   days on market $650,000 Active 16 DOM
10. 2026-06-04
    days on market $650,000 Active 13 DOM
11. 2026-06-03
    days on market $650,000 Active 12 DOM
12. 2026-06-02
    days on market $650,000 Active 11 DOM
13. 2026-06-01
    days on market $650,000 Active 10 DOM
14. 2026-05-31
    days on market $650,000 Active 9 DOM
15. 2026-05-21
    listed $650,000 Active
16. 2025-10-23
    status Pending
17. 2025-10-23
    historical
18. 2025-09-29
    status Active
19. 2025-08-29
    listed $500,000 Active
20. 2025-08-16
    historical
21. 2020-07-05
    historical
22. 2020-02-04
    listed $779,000 Active
23. 2018-10-31
    historical
24. 2017-06-21
    status Under Contract
25. 2017-06-04
    price $599,999
26. 2017-05-24
    listed $399,000 New
27. 2016-05-23
    historical
28. 2016-05-23
    listed $228,000
29. 2012-07-02
    historical
30. 2012-07-02
    historical
31. 2012-02-20
    listed
32. 2012-02-20
    listed $379,000
33. 2005-03-25
    soldstatus $460,000
34. 2005-03-25
    soldstatus $460,000
35. 1990-10-29
    soldstatus $190,000
36. 1985-07-02
    soldstatus $56,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $13,255 · $1,105/mo
• Projected year-2 tax: $13,255 · $1,105/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $87,432
• − Mortgage interest: −$36,410
• − Property taxes: −$13,255
• − Insurance: −$3,250
• − Repairs & maintenance: −$6,995
• − Management: −$6,995
• − Depreciation: −$18,909
• Taxable income: $1,618
• Est. tax owed @ 24.0%: −$388
• After-tax cash flow: $11,274/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

No district data.

Livability — New York

• Score: 75/100
• State rank: #268
• US rank: #4188

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment A- Housing C+ Health & safety A User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New York, NY
• City population: 7,731,280
• Population (ZIP): 49,753

Population outlook (Bronx County) Hauer SSP2

• Today (2025): 1,607,353 people
• By 2030: 1,681,852 · +4.6%
• By 2040: 1,824,421 · +13.5%
• By 2050: 1,945,470 · +21.0%
• By 2075: 2,187,887 · +36.1%
• By 2100: 2,244,136 · +39.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (66%)
• Race & ethnicity: Hispanic / Latino 66% Black 29% Two or more races 16% White 1% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 22% Dominican 31%
• Common ancestry: Hispanic 1%
• Foreign-born: 29% · Canada
• Languages at home: 36% English-only · Spanish 55% French/Haitian/Cajun 2% Other Indo-European 1%

Political lean MEDSL · Bronx

• 2024 margin: Solid D (+45.4) · D 72.7% · R 27.3%
• 2008→2024 swing: -32.3pp toward R · 2008: 77.8pp · 2024: 45.4pp
• All cycles: 2024: D+45.4 2020: D+67.6 2016: D+79.1 2012: D+82.9 2008: D+77.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.66%
• Current HPI: 277.1628
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

+1060.7% since first listed

22 events — show timeline

• 2026-05-21 Listed $650,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-23 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-10-23 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-09-29 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-08-29 Listed $500,000 OneKey® MLS as Distributed by MLS Grid
• 2025-08-16 Coming Soon — OneKey® MLS as Distributed by MLS Grid
• 2020-07-05 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2020-02-04 Listed $779,000 OneKey® MLS as Distributed by MLS Grid
• 2018-10-31 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2017-06-21 Pending — OneKey® MLS as Distributed by MLS Grid
• 2017-06-04 Price Changed $599,999 OneKey® MLS as Distributed by MLS Grid
• 2017-05-24 Listed $399,000 OneKey® MLS as Distributed by MLS Grid
• 2016-05-23 Listed $228,000 OneKey® MLS as Distributed by MLS Grid
• 2016-05-23 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2012-07-02 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2012-07-02 Delisted — HGMLS
• 2012-02-20 Listed $379,000 OneKey® MLS as Distributed by MLS Grid
• 2012-02-20 Listed — HGMLS
• 2005-03-25 Sold (Public Records) $460,000 Public Records
• 2005-03-25 Sold (Public Records) $460,000 Public Records
• 1990-10-29 Sold (Public Records) $190,000 Public Records
• 1985-07-02 Sold (Public Records) $56,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $13,255 · +3.2% YoY. Source: county tax records.